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  #2881  
Old Posted Aug 27, 2014, 4:11 PM
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Continuing the trend of new commercial space out east...way out east. 240,000 sq ft is a decent amount of space, but I don't think this will have much affect on downtown or the core other than robbing it of a little bit of density. I'm more mad about this continual thought process that's accommodating to sprawl, but it is what it is.


Local contractor plans new, seven-building office park
http://www.bizjournals.com/memphis/n...ng-office.html

Quote:
For the first time in a long time, work is about to begin on a large new office building park in Memphis.

Memphis-based construction contractor Dan Walker Associates Inc. plans to develop up to 240,000 square feet and seven buildings on 7.6 acres at 3923 Forest Hill Irene Road, including its own $1.2 million headquarters.

The company, which was founded in 1977 and has 23 employees, will start work on its 10,500-square-foot headquarters within two months, said Daniel Walker, vice president and son of the company's founder, Dan Walker. The company will relocate to the building in early spring from its current location in roughly 2,000 square feet at 5350 Poplar Ave., Suite 420.

Dan Walker Associates just bought the property – which is between Winchester Road and Tennessee Route 385, south of ServiceMaster Acceptance Corp. – from Clark Metcalf for $350,000 and had it rezoned to commercial.
Quote:
Barry Maynard of Loeb Properties Inc. represented Dan Walker Associates in the sale. Eric Fuhrman of Crye-Leike Commercial represented Metcalf.

The purchase comes as Dan Walker Associates's business is – as Maynard put it – "booming." The company currently has 30 projects underway, including the buildout of Belly Acres in Overton Square.

"They've made so many hires, they've had to put them in the break room because they don't have enough space," Maynard said.
The idea for the office park has been floating around at Dan Walker Associates for a couple of years now. The increase in business and the opportunity to buy the site convinced Dan Walker to move forward.

"We're actually so busy, it's just a good time for us," Dan Walker told me.
Quote:
Walker said he's not afraid to build speculative buildings – he believes in the opportunity that much – but that the plan is to build to suit the park's tenants. But none of the buildings, he added, would be above two stories.

Fuhrman said he didn't expect Dan Walker Associate to have any trouble finding office tenants for the property thanks to its location.

"I think it screams potential," he said. "And the reason being, you're so close to 385 at the backdoor of Germantown, with every amenity down Winchester."
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  #2882  
Old Posted Aug 27, 2014, 10:47 PM
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A new grocery chain is coming to the Mid-South area, and to Tennessee in particular, with initial plans for a store in Lakeland and another in Germantown. It's no Trader Joe's, but they are describing it as high-end according to the MBJ article below.

http://www.bizjournals.com/memphis/n...-lakeland.html

Quote:
High-end grocer leases former Kroger in Lakeland
By Ryan Poe
Staff writer - Memphis Business Journal

New-to-Memphis high-end grocery store chain Sprouts Farmers Market Inc. has leased a former Kroger in Lakeland and is eyeing another location in Germantown.

Phoenix, Arizona-based Sprouts (NASDAQ: SFM) plans to open this spring in nearly 30,000 square feet of the former 50,922-square-foot Kroger at 1950 U.S. 64 in Lakeland's Country Bridge Shopping Center, according to multiple sources who asked not to be named since Sprouts hasn't made its official announcement yet.

The same grocery leasing the Lakeland Kroger is also looking to lease the former Schnucks at The Shops of Forest Hill Irene on Poplar Avenue in Germantown, The Daily News reported today.
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  #2883  
Old Posted Aug 28, 2014, 2:49 AM
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i noticed at least one reference to the project being described as "giant". i don't know that the seven buildings would be considered giant, even if that described the individual buildings, but i am confused if 1.2 million is the cost of the headquarters or the entire. 1.2 is not much of an office, in my view. i don't mean to berate the project, but the dollar figures sound quite a bit off. too, i agree w/ ark, this 385 drive and the mpo plan of making a concerted effort to avoid the typical things you see at other sites, such as germantown rd, the walnut grove, wolf blvd, and humphreys place, along w/ southaven, olive branch, and other areas. there are already businesses that inherentely take up large amounts of ground space building in that area---lexus, mercedes, and plans which have yet to be started or announced. i wish we had some organizations w/ teeth to help stop some of these wild eastern rushes to stop clearing so many trees and landscape near the shelby county line.
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  #2884  
Old Posted Aug 28, 2014, 2:46 PM
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Originally Posted by kingchef View Post
i noticed at least one reference to the project being described as "giant". i don't know that the seven buildings would be considered giant, even if that described the individual buildings, but i am confused if 1.2 million is the cost of the headquarters or the entire. 1.2 is not much of an office, in my view.
1.2 for their office only. As far as actual square footage it's not "giant", but sitting on 7.6 acres will make it seem that way. That's a pretty large footprint for just office space. I'm not a fan of developments like these, but I don't have a dog in this fight.

Quote:
i wish we had some organizations w/ teeth to help stop some of these wild eastern rushes to stop clearing so many trees and landscape near the shelby county line.
A lot of cities have at least stressed the importance of maintaining sprawl, limiting the footprint of new construction, promoting population density, creating infill, etc. I haven't heard anything really from Memphis or Shelby County in regards to this.
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  #2885  
Old Posted Aug 28, 2014, 7:33 PM
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Interesting article. I'm not posting the entire article so make sure to check it out.

The Memphis airport is on a mission to become its own city
http://news.msn.com/us/the-memphis-a...its-own-city-1

Quote:
Quick: Name the busiest airport in America. It's not LAX, and it's not O'Hare; it's not Atlanta Hartsfield-Jackson or Miami International, the jumping-off point to Latin America. It's not any of the airports in metropolitan New York. No, it's Memphis International.

Memphis is the busiest airport in the United States in terms of cargo traffic, and the second-busiest cargo airport in the world, bested only by Hong Kong.

All right, so that was kind of a trick question. But the fact is that as America's cargo capital, Memphis handles a ton of freight. The reason is simple: it's the global headquarters of FedEx, which whips 3 million packages a day through its airport "SuperHub" and employs more than 30,000 people in the region.

FedEx is not in Memphis by accident. Shortly after its founding in Little Rock in 1971, FedEx left for Memphis, attracted by the city's proximity to major Midwest and East Coast markets and its excellent transportation infrastructure. Air cargo both originates and ends up on trucks and trains, and of course FedEx ships by ground as well as air. For moving all that freight, you can't get much better than seven highways, five railroads, and a Mississippi River port. "Memphis has the four Rs: runway, road, rail, and river," says Reid Dulberger, the chief economic development officer for Memphis and Shelby County.

Around the airport and FedEx headquarters, an entire logistics and distribution industry has sprung up. Smooth transfers between plane, truck, and train allow 1-800-FLOWERS to send a Mother's Day bouquet, Nike to dispatch the shoes you ordered, and so on. For some businesses, such efficiency is not just desirable but critical. The National Eye Bank Center made its home several miles east of the airport, on Interstate 240, so it can race to deliver corneas to transplant patients.

If the airport is Memphis' economic engine, a visitor wouldn't know by looking. Neighborhoods around Memphis International struggle with disinvestment, crime, and blight. Vacancy rates are high. Several years ago, city officials started to worry about businesses locating elsewhere based on negative perceptions of the airport district. They had to do something—and what they did was double down on the airport's importance to the city's economy and identity.
Quote:
In 2007, the city adopted a new brand, "Memphis: America's Aerotropolis." With a HUD grant, it commissioned a $2 million master plan for reviving the 50-square-mile area around the airport, which sits about seven miles southeast of downtown. Released this April, the plan shows a verdant "airport city" of warehouses and greenways, a walkable urban center, and improved highway interchanges. In other words, it's an amalgam of current urbanist thinking and upgrades to the big, fast roads that serve as lifeblood of the local economy.

Chad Bowman, who manages the aerotropolis project for the Memphis and Shelby County planning department, says the plan unites these two approaches and makes them compatible. "It's not just about moving freight," he says. "It's about people being able to move within their own community, safely."


Quote:
The plan draws on the "aerotropolis" concept set out by business professor John Kasarda in his 2011 book of the same name, co-authored with Greg Lindsay. Kasarda argues that major 21st-century airports, instead of being peripheral to cities, will become urban hubs in their own right—edge cities with access to the nearest downtown but also their own convention centers, universities, and offices, as well as residential areas for people who work at or near the airport and for frequent air travelers. New aerotropolises are under way in China, South Korea, India, and Dubai, proving Kasarda visionary—or persuasive, since he has been talking up his idea at meetings around the world since 2000.

Memphis is the best contender for a genuine aerotropolis among American cities. (Some draw a distinction between true aerotropolises and mere "airport cities," a sort of less-developed conceptual cousin.) While Detroit, Atlanta, Denver, and Dallas-Fort Worth are in various stages of aerotropolis planning, the Memphis plan was the first to be funded by HUD, lending it some extra legitimacy.

Yet it remains to be seen whether this model will work for Memphis. Whereas many new airport cities are rising on greenfield sites, like Songdo in South Korea, Memphis is surrounded by ailing prior development. Using the aerotropolis plan for neighborhood redevelopment is laudable, but will no doubt add a layer of complexity to an already-complex project. "There is a commercial hole in [Memphis'] aerotropolis donut that may take decades to fix," says Kasarda, who consulted on the plan.
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  #2886  
Old Posted Aug 29, 2014, 6:09 PM
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Redesigned, $15M Artspace Lofts moves forward in South Main
http://www.bizjournals.com/memphis/n...orward-in.html


http://www.bizjournals.com/memphis/n...=image_gallery

Quote:
The developers of the South Main Artspace Lofts in Downtown Memphis have added units and upped the total cost and are close to starting construction.

After being passed over twice for low-income housing tax credits by the state, Artspace will finance the now $15 million, 58-unit project at 138 St. Paul Ave. with a 4 percent bond and additional fundraising, said Artspace Senior Director of Advancement Kathleen Kvern.

The bond should close in about six months and construction should last a year, putting the project's opening date in early 2016, Kvern said.
Quote:
The 87,625-square-foot project, which has been in the works since 2008 or 2009, would have been a $13.1 million project with 44 live/work residential units and 6,200 square feet of gallery and educational space, as we reported in March 2013. The commercial space was reduced, but the project will still have an outdoor arts garden and performance plaza.

The project is designed for residents earning 30-60 percent below the area's median income, with leasing preference given to artists, Kvern said.
I'm still somewhat scratching my head on how this project couldn't get either low income tax credits or historic tax credits, but in any case I'm glad to see the developers preparing to start construction soon. The amount of residential units under construction (in South Main in general) is really good, but I'm kinda disappointed about the lack of commercial development.
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  #2887  
Old Posted Sep 2, 2014, 4:34 PM
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The Horizon now under contract
http://www.bizjournals.com/memphis/n...-contract.html


http://www.bizjournals.com/memphis/n...=image_gallery

Quote:
The long-stalled Downtown Memphis condominium tower The Horizon is under contract to sell to a new developer planning luxury condo units.

That's according to Shane Soefker of Cushman & Wakefield Commercial Advisors' Capital Markets group, which has been marketing the unfinished, 16-story, 155-unit tower at 717 Riverside Drive. The sale is expected to close in a matter of weeks.
Soefker said developers' interest level has been very high for the property, with multiple uses proposed, since the four owner-banks settled the last of more than 20 lawsuits in May.

He declined to disclose the identity of the potential buyer, but said it was a "well capitalized" organization with experience developing condos.

The completion of the project would fill a vacant building on one of the prime riverfront properties in the fast-growing South Main area of Downtown and could also signal a turnaround for the Downtown condo market, which was hard hit by the recession.
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  #2888  
Old Posted Sep 2, 2014, 5:04 PM
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^ That is definitely good news. Whatever plans the new owners have for the building, hopefully it'll include a new paintjob as well as doing something to the unfinished parking garage fronting the property.
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  #2889  
Old Posted Sep 2, 2014, 5:50 PM
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^ That is definitely good news. Whatever plans the new owners have for the building, hopefully it'll include a new paintjob as well as doing something to the unfinished parking garage fronting the property.
Indeed. If I were the new owner I'd certainly consider new paint for the facade, not necessarily from a design stand point (although that would be a reason), but more so from a marketing stand point. New owner, new look, etc. In any case, like we've all said before, this is good to get more people living downtown.
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  #2890  
Old Posted Sep 2, 2014, 11:55 PM
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ark, i'm not at all casting aspursions on your photo skills, as i am sure you will understand my comment. i like the rise and fall of looking straight on, because it gives much movement to the entire photo. nevertheless, it would really be a nice picture if those utility poles and lines and other physical distractions could be hidden away. another thing i like about the photo is the juxtaposition of the nice little buildings to the right. the cornice work and the small balconies gives it a nola feel. memphis seems to have picked up a good deal of energy this year.
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  #2891  
Old Posted Sep 3, 2014, 1:09 AM
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That's great news to hear about The Horizon. Even though I hate just about everything about the building (bad design, bad setting, awful color, zero street interaction, etc.), I suppose nothing is worse than an unoccupied building. Hopefully a new paint scheme would get rid of those awkward black sections that make the building look unfinished.
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  #2892  
Old Posted Sep 3, 2014, 1:56 AM
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Originally Posted by kingchef View Post
ark, i'm not at all casting aspursions on your photo skills, as i am sure you will understand my comment. i like the rise and fall of looking straight on, because it gives much movement to the entire photo. nevertheless, it would really be a nice picture if those utility poles and lines and other physical distractions could be hidden away. another thing i like about the photo is the juxtaposition of the nice little buildings to the right. the cornice work and the small balconies gives it a nola feel. memphis seems to have picked up a good deal of energy this year.
Lol...not my photo, the link is below it. Biz Journal might have a comment section though...
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  #2893  
Old Posted Sep 3, 2014, 4:45 PM
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Developer buys properties for seven-story housing tower near U of M
http://www.bizjournals.com/memphis/n...y-housing.html




http://www.bizjournals.com/memphis/g...y-housing.html

Quote:
A group of developers has paid $1.3 million to buy the properties needed for a seven-story student housing tower near the University of Memphis.

Developer Memphis Student Housing LLC, operating as Legacy Property Group LLC, has in four separate deals purchased the parcels for its 1.2-acre site southwest of Mynders Avenue and Brister Street, according to public deed transaction records.
Quote:
The developer — which is headed by Will Crumbaugh of Frankfort, Kentucky-based Crumbaugh Properties — is planning a 395-bed, 120-unit, off-campus apartment tower, as I reported recently. The tower has a working name of The Standard.
Quote:
“We saw this as an opportunity to create something unique at the U of M," said Eric Fuhrman, who in 2005 also assembled and sold five properties for the development of The Stratum on Highland apartments near the future site of The Standard. "On-campus student housing development sites are rare, and we knew this would receive national attention."



I'm glad to see that the property has finally be purchased and hopefully this will begin construction sooner rather than later. This is pretty good for the university district. This should get more students living in the campus area while making the neighborhood much more urban. I think the massing of the project looks fine, although the materials used will make or break how it looks, imo. The name is kinda lame, but that's irrelevant. This should also clean up that area around Scootie's some.
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  #2894  
Old Posted Sep 3, 2014, 5:01 PM
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Downtown parking under scrutiny
http://www.bizjournals.com/memphis/n...-scrutiny.html

Quote:
The Downtown Memphis Commission has submitted parking garage guidelines to help make the Downtown parking experience safer.

The guidelines cover concerns to the facility, such as proper lighting and clear signage, and concerns to operations, such as having an attendant present at peak hours.
Quote:
Rubin said, "Safety is the biggest concern of all patrons of any garage. Once people feel safe, cleanliness would be the next highest priority. Even that contributes to a feeling of safety because it makes it seem like people care."

Regarding the 22 garages and 84 parking lots Downtown that are not operated by the DPA, Commission president Paul Morris says he believes "a moral authority and persuasion, power of community expectation and perhaps even a little shame" will coerce the other managers to comply to these guidelines. Morris adds that having objective standards is a crucial step in improving overall quality.


What's the point of the DMC once again referring to something as "guidelines" when they're going to function as recommendations. Why not mandate that the other parking facilities update to the proposed guidelines instead of hoping that "moral authority" will take control of the situation? That makes no sense to me, but w/e.
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  #2895  
Old Posted Sep 3, 2014, 8:52 PM
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Hopefully One Beale will release news this week or today.
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  #2896  
Old Posted Sep 3, 2014, 10:37 PM
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i think the parking issues are very important, but, even though i understand having civic pride, which i think is probably a better term than moral authority. however, in a great number of metro areas moral authority seems less and less likely as a measure for persuasion. recently i was hurrying to catch a flight from b'ham to new orleans. on the way out 280 an old pissy queen or king size mattress flew out of the back of a dodge ram pickup. i was able to do a swan dive, along w/ the rest of the 6 or 7 vehicles in the race. as i progressed down the interstate, i passed a coffee table and an old orange recliner. finally, i got to my exit, and i noticed a dresser sitting upright in the triangle where the airport goes left under the interstate and right towards the east-west ave--munford, i think. had i continued on to atlanta, i would have no doubt that i would have had a house full of furniture. i'm not picking on b'ham, but 65 south is pretty much like driving in those electric dodge cars. the traffic through that point goes about 75-80 mph on average, and most of it is arterial roadway bridges and dips and limited sight. memphis, in my opinion, causes a great deal of problems w/ the group that owns a good deal of the parking garages. i heard some visitors (8), who were outraged at the parking prices, the distances from the forum, and the lack of attendants. perhaps the police are the attendants, as i parked 7 cars back from 2nd, while i went to calvary church. it was after 7:00 p.m., and all nine cars were ticketed, as well as those across the street. i never did pay it.
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  #2897  
Old Posted Sep 3, 2014, 11:16 PM
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i think the parking issues are very important, but, even though i understand having civic pride,
That's another big part of it for sure, but I don't know if a "cleanup" that will result in safer parking starts with the owners of the garages and surface lots like it's being implied by the DMC. Know what I mean? Generally you can pick and choose the various garages downtown. Now, aside from those operated by DMC, the ones that are near more popular establishments generally are nicer...fill in some of these surface lot gaps in downtown and find tenants for some of the vacant blighted properties and the rest will fall in line.
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  #2898  
Old Posted Sep 4, 2014, 2:03 AM
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The Beale street "Fee" was short-lived and turns out it was bad for business. Who knew? http://www.commercialappeal.com/news...times_55447385
Quote:
“We understand that the fee was bad for business and unpopular with many, and we are confident that we can find another way to ensure public safety going forward in the event a new pattern of dangerous overcrowding develops,” Morris wrote in the letter to Wharton.

The options under consideration include wristband nights and “Beale Street Bucks.” In 2012, merchants described a program in which visitors would pay $10 for $9 in vouchers that would be used at the street’s establishments, with the other dollar going to pay costs for the program. Morris said in an interview that Beale Street’s leaders haven’t outlined any rules for the “Beale Street Bucks” program and that they believe they’ve dealt with the overcrowding problem for now.
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  #2899  
Old Posted Sep 4, 2014, 6:46 PM
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More good news for South Main. I guess since this is a second phase of what's across the street they won't look much better than phase 1.

Turley plans $8.1M addition to Downtown Memphis apartments
http://www.bizjournals.com/memphis/n...n-memphis.html

Quote:
Long-time Memphis developer Henry Turley Co. is planning a $8.1 million addition to its South Junction apartments in Downtown's South Main neighborhood.

The 84-unit second phase of the currently 197-unit South Junction — which Turley will build at the southeast corner of Georgia and Florida Street, as I reported in April — would bring the company's total investment in the project up to more than $26 million.
Quote:
Turley plans to ask the Downtown Memphis Commission's Center City Revenue Finance Corp. at its next board meeting on Sept. 9 to amend South Junction's payment-in-lieu-of-taxes incentives agreement to include the second phase of the complex.

South Junction Partners, led by Turley, received approval for a 15-year PILOT for the first phase of South Junction in June 2013, saving it $4.1 million in city and county taxes.
Quote:
Construction on the new units should begin in September or October and finish in July 2015, according to an application submitted to the CCRFC.

The new apartments will be spread over 2.81 acres and will have 121 on-site surface parking spaces, the application said. About 20 percent of the units would be reserved for low- to moderate-income renters.

The plans for the apartment will go to the Design Review Board in October, according to the CCRFC application.
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  #2900  
Old Posted Sep 4, 2014, 10:56 PM
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I posted on the Nashville page that it's in the running for a Virgin Atlantic nonstop to London on some posts off of aviation sites. So....Memphis can dream too, right?

Here's a interesting article concerning KC that mentions Memphis as the new planes will allow for smaller but still capable transatlantic flights

There's this snippet:

Until recently, industry analysts would have scoffed at such a notion. But in March, the Austin, Texas, airport, a non-hub airport similar in passenger numbers to KCI, launched a daily British Airways flight to London. Aviation observers nationwide sat up and took notice.

"I do believe that international airlines are looking at second-tier airports as possibilities," said William Swelbar, research engineer with the MIT International Center for Air Transportation. "I would imagine Kansas City, Columbus (Ohio), Austin and those types of markets are attractive, as the larger cities are relatively full."

Denver-based aviation consultant Mike Boyd made the same observation at his 19th annual International Aviation Forecast Summit in Las Vegas last month. Boyd predicted that in the next three to eight years, a new generation of airliners such as the 787 will allow carriers to "invade" major non-hub airports. He specifically cited KCI, along with Cincinnati, Indianapolis, New Orleans and Memphis, Tenn.

Read the rest here
http://www.aviationpros.com/news/116...-international


A quick edit, it's British Airways possible eying Nashville, Memphis is being mentioned as market to feed a Detroit based Virgin Atlantic/Delta nonstop to London.

Last edited by Wayward Memphian; Sep 4, 2014 at 11:11 PM.
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